Lisbon (AFP) - Fears over the health of Portugal's largest listed bank, Banco Espirito Santo, sent its shares into freefall Thursday, shaking stock markets in Lisbon and across Europe and even the Atlantic.

Euro is the reserve currency next to the dollar. When dollar is weak that oil buyers have to use Euros for payment to Russian oil, what if Euro’s value is threatened? Similar situation had acted four years ago when US had a financial crisis (the bankruptcy of Leman Brothers caused by sub-prime loan collapse), US resolved it by introducing the Greek financial crisis.

Wall St. Helped to Mask Debt Fueling Europe’s Crisis

By LOUISE STORY, LANDON THOMAS Jr. and NELSON D. SCHWARTZ

Published: February 13, 2010Wall Street tactics akin to the ones that fostered subprime mortgages in America have worsened the financial crisis shaking Greece and undermining the euro by enabling European governments to hide their mounting debts.

As worries over Greece rattle world markets, records and interviews show that with Wall Street’s help, the nation engaged in a decade-long effort to skirt European debt limits. One deal created by Goldman Sachs helped obscure billions in debt from the budget overseers in Brussels.

The energy supply of Europe is heavily dependent on Russia. About one third to 40% of its natural gas and oil are imported from Russia. One important gas pipe is inside Ukraine. If there is a turmoil in Ukraine, the gas supply to Europe will be affected. The economy of Europe would be weakened, so be the Euro. That’s why we saw an upheaval in Ukraine.

One of those unreported things, Paul claimed in his weekly "Texas Straight Talk" column, was the United States' own responsibility for destabilizing the region. Ukraine is currently embroiled in violent conflict between the Ukrainian government and the pro-Russian separatists.

"They will not report that the crisis in Ukraine started late last year, when EU and US-supported protesters plotted the overthrow of the elected Ukrainian president, Viktor Yanukovych.

Without US-sponsored 'regime change,' it is unlikely that hundreds would have been killed in the unrest that followed. Nor would the Malaysian Airlines crash have happened," Paul wrote.

Here EU used to be a follower of the US. I think the Europeans have sensed the coming danger the US will bring to them. German is a major power of EU. Recently, German has twice revealed two US spy cases and eventually expelled a CIA intelligence official. That’s unusual.

BERLIN — Germany’s relations with the United States plunged to a low point Thursday, with the government demanding the expulsion of the chief American intelligence official stationed here because, it said, Washington has refused to cooperate with German inquiries into United States intelligence activities.

I would say German has sensed (or with its state ability, having the intelligence) that US would sacrifice European’s economy by creating a crisis in Europe. It could be terror attack; or war. The deportation of US intelligence official is just a warning or protest of disagreement. Several days later, Malaysia airliner MH17 was down in Ukraine.

The MH17 crash was obviously an attempt to draw Europe into a war crisis in Ukraine. As a result, Euro goes down wards.

Ukraine Tensions See Euro Come off Boil

LONDON — Jul 22, 2014, 11:56 AM ET

By PAN PYLAS Associated Press

The euro fell Tuesday to its lowest level against the dollar this year amid concerns that the downing of Malaysia Airlines Flight 17 will prompt a bigger freeze in relations between the European Union and Russia.

The deterioration in relations between the two sides has worked against the euro, which is used by 18 EU countries. The crisis in Ukraine has given traders an opportunity to sell the euro, which had been at multiyear highs against the dollar despite the muted economic recovery in the eurozone and low interest rates.

WASHINGTON (AP) -- The United States shut down its embassy in Libya on Saturday and evacuated its diplomats to neighboring Tunisia under U.S. military escort amid a significant deterioration in security in Tripoli as fighting intensified between rival militias, the State Department said.

When there were “dictators”, the media blew the trumpet for “democracy”, “color revolution”, “Arab spring”. After the fall of the dictatorship, what left over are all US assets: ISIS, Iraq’s Maliki puppet government, rival militias (include Al Qaida) in Libya. Now you rarely hear the angry cry for justice although those agents are more cruel than the “dictators” – they are bombing civilians; beheading P.O.W. and doing religious extinction. Because all those puppets are working for the same master.

The puppets now are acting war shows in Iraq, Libya and Ukraine(where only Russia is the real enemy), all for one purpose, to save the dollar from collapse.

The recent outbreak of Ebola epidemic is a bio attack. It plays the same role as SARS to create a public panic which finally will cause a heavy economic damage. The target aims at E.U.. The main project is to create a conflict between E.U. and Russia in Ukraine crisis. E.U. and Russia all realize it and are trying to avoid such a confrontation. The shooting down of MH17 was one of the efforts. To push the reluctant E.U. countries to step up the confrontation with Russia, US activate the Ebola attack. It’s a whipping, a blackmail. If you don’t do to my way, you’ll be suffered an epidemic. Your economy will be damaged.

The bird flu virus and Ebola virus, are the secret weapons of Pentagon because so far the outside world has no effective medicine to deal with them.

Weaponized Ebola Virus Info

Filoviruses like Ebola have been of interest to the Pentagon since the late 1970s, mainly because Ebola and its fellow viruses have high mortality rates — in the current outbreak, roughly 60 percent to 72 percent of those who have contracted the disease have died — and its stable nature in aerosol make it attractive as a potential biological weapon.

The source of Ebola was well selected. Watch the map, Guinea, Liberia, Nigeria and Sierra Leone are below West Europe, then it goes north to Spain. The dead Spanish priest indicates E.U. would be the target.

Of course, to get rid of being suspected as the original source of Ebola spreader. US got two American aid workers being contaminated with the Ebola. Both recovered from the deadly disease. It means US has developed the Ebola vaccine already. Nobody will start a bio war that would also hit himself unless he has had effective cure medicine already. That’s why there was such a comic that WHO demanded the drug but US said it’s too early as it was still in test. The possible production will be in next year.

They won't let out the new drug before they seeing the result of this bio attack - the economic crisis in Europe. That likely will happen in September.

The Nail In The Petrodollar Coffin: Gazprom Begins Accepting Payment For Oil In Ruble, Yuan

Submitted by Tyler Durden on 08/27/2014Several months ago, when Russia announced the much anticipated "Holy Grail" energy deal with China, some were disappointed that despite this symbolic agreement meant to break the petrodollar's stranglehold on the rest of the world, neither Russia nor China announced payment terms to be in anything but dollars. In doing so they admitted that while both nations are eager to move away from a US Dollar reserve currency, neither is yet able to provide an alternative.

This changed in late June when first Gazprom's CFO announced the gas giant was ready to settle China contracts in Yuan or Rubles, and at the same time the People's Bank of China announced that its Assistant Governor Jin Qi and Russian central bank Deputy Chairman Dmitry Skobelkin held a meeting in which they discussed cooperating on project and trade financing using local currencies. The meeting discussed cooperation in bank card, insurance and financial supervision sectors.

And yet, while both sides declared their operational readiness and eagerness to bypass the dollar entirely, such plans remained purely in the arena of monetary foreplay and the long awaited first shot across the Petrodollar bow was absent.

Until now.

According to Russia's RIA Novosti, citing business daily Kommersant, Gazprom Neft has agreed to export 80,000 tons of oil from Novoportovskoye field in the Arctic; it will accept payment in rubles, and will also deliver oil via the Eastern Siberia-Pacific Ocean pipeline (ESPO), accepting payment in Chinese yuan for the transfers. Meaning Russia will export energy to either Europe or China, and receive payment in either Rubles or Yuan, in effect making the two currencies equivalent as far as the Eurasian axis is conerned, but most importantly, transact completely away from the US dollar thus, finally putin'(sic) in action the move for a Petrodollar-free world.

A bizarre political statement by Saddam Hussein has earned Iraq a windfall of hundreds of million of euros. In October 2000 Iraq insisted on dumping the US dollar - 'the currency of the enemy' - for the more multilateral euro.

The changeover was announced on almost exactly the same day that the euro reached its lowest ebb, buying just $0.82, and the G7 Finance Ministers were forced to bail out the currency. On Friday the euro had reached $1.08, up 30 per cent from that time.

Almost all of Iraq's oil exports under the United Nations oil-for-food programme have been paid in euros since 2001. Around 26 billion euros (£17.4bn) has been paid for 3.3 billion barrels of oil into an escrow account in New York.

People think the nuclear ambition of Iran is the reason for Iran war. That is only right on Israel's part. For US part, it is petro-dollar.

US dollar is appointed currency in oil trading. Because the oil trade is a huge business, a large amount of dollar is locked up in that trade. That money is called petro-dollar. Why it is so important to US? Because it acts as a long term none interest loan The prosperous US economy partly was based on the petro-dollar - a long term loan without interest. Let me depict it in this way:

US bought a house from Japan (whom represents the oil customers of Iran) for one million dollars. US also bought another house from France (whom represents other oil customers of OPEC) for one million dollars. Japan and France use these two million dollars as fund to buy oil. The money was used in oil trading circle and never back to US. US enjoys the two houses almost free. He doesn't have to pay monthly mortgage payment. Not a penny for interest, nor for principle. All the cost was the printing of a green back paper. However, that green back paper - petro dollar, is still a debit note. How long is it? So far it's more than forty years - since dollar became the appointed oil trade currency.

But suddenly, Iran refuses to accept dollar. Japan has to ask US to exchange that one million dollar into Euro or yen. What US can do is: 1. to get the dollar back by export more merchandise. But he is not able to. He has a trade deficit already. 2. To get the dollar back with gold or foreign currency reserve. But he hasn't that much reserve. 3. To lock up that extra one million dollar in US Bond by raising the interest rate to attract the buyer. But he unwilling to do it. There is a sub-prime crisis in real estate market. Any interest increase will further devalue the house. Feds holds a large amount of real estates in my case, they don't allow such thing to happen. So to solve the problem, they go to the fourth option. 4. By pushing up the oil price.

France (other oil consumption countries) keeps one million dollar as oil trading fund. How much does he need if the oil price doubled? Two million. Thus the one million dollar Japan abandoned is absorbed by France. That's why the oil price jumped like crazy in recent days - a tricky way to keep US dollar from collapsing.

US has to pay for high oil price too. Ordinary people bear the cost. But the high oil price will hurt the economy. The condition won't last long. So war on Iran is unavoidable.

Of course, US is a "democratic" country. It can't start a war because others refusing to use its currency. Then beware of another 911 style false flag attack.

We know there was an incident of live nuclear head weapons being carried over the continental US by a B-52 last August. There is attempt of dirty bomb attack in Houston this year. Quote, "State of Emergency: The US in the Final Six Months of the George W. Bush Administrationby Lewis Seiler and Dan Hamburg June 13, 2008 by CommonDreams.org .......Former National Security Agency analyst and naval intelligence officer Wayne Madsen has been in Houston investigating the Carnaby case at great personal risk. Madsen believes Carnaby was involved both in heading off a potential war with Iran (by leaking Mossad plans to assassinate Hezbollah leader Hassan Nasrallah just days before Carnaby himself was killed) and in trying to forestall a potential terrorist attack on the port.According to Madsen, “federal agents in Houston fear that ‘another 9/11-type part false flag’ attack is imminent, perhaps as early as July 4.”.......

Banned From U.S. Banks, Russian Oil Giant Turns To Even Bigger Banks In ChinaRussian state owned oil company Gazprom is turning to China for foreign sources of capital now that the U.S. and European financial markets are closed to them.

Beijing is trying to open its capital markets, and lending to foreign institutions is par for the course. Gazprom make for a solid borrower, with tons of collateral in the form of gold…black gold that is. For Gazprom, Chinese interest rates aren’t as low as what Western banks can offer. But they are still more attractive than Russian banks. China’s benchmark interest rate is 6%, while Russia’s rate is 8%.

The Cost Of Putin’s Ukrainian Adventure: Russia’s Currency Is Plummeting

The Russian ruble is worth 41% less, in dollar terms, than it was on January 1. U.S. and E.U. sanctions, plus a big drop in oil prices, are to blame. posted on Nov. 6, 2014,

The Russian currency, the ruble, has plummeted this year, hitting fresh lows of 46 rubles to the dollar on Thursday. It traded at 40 rubles to the dollar just in the last month, and has depreciated 41.8% this year.

That means that if you had $100 worth of rubles on January 1, they would be worth less than $60 today.